Cassava Sciences, Inc. (NASDAQ:SAVA – Get Free Report) shares saw an uptick in trading volume on Tuesday . 1,462,683 shares were traded during mid-day trading, an increase of 111% from the previous session’s volume of 693,385 shares.The stock last traded at $24.83 and had previously closed at $23.57.
Analyst Ratings Changes
Separately, HC Wainwright reaffirmed a “buy” rating and set a $124.00 target price on shares of Cassava Sciences in a research note on Tuesday, March 5th.
Cassava Sciences Price Performance
The firm has a fifty day simple moving average of $22.05 and a 200-day simple moving average of $19.21. The firm has a market cap of $1.08 billion, a P/E ratio of -10.84 and a beta of -0.45.
Cassava Sciences (NASDAQ:SAVA – Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). On average, equities analysts predict that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Impact Partnership Wealth LLC purchased a new position in Cassava Sciences in the third quarter worth $25,000. Montag A & Associates Inc. raised its stake in shares of Cassava Sciences by 50.0% in the third quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the period. Northwest Financial Advisors bought a new stake in shares of Cassava Sciences in the fourth quarter valued at $25,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cassava Sciences by 653.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Cassava Sciences by 484.7% in the first quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock valued at $33,000 after buying an additional 727 shares during the period. Hedge funds and other institutional investors own 38.05% of the company’s stock.
Cassava Sciences Company Profile
Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer’s disease.